REGISTERED COMPANY h'UMBER: 09971407 (EnglAnd and Wales)
REGISTERED CHAIUTY NUMBER: 1184719
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023
FOR
THE MATTHEW LUDLAM FOUNDATION
P B Syddall & Co
Chartered Accountants
Grafton House
81 Chorley Old Road
Bolton
Lancashire
BLI 3AJ

THE mA￿HEw LUDLAM FOUNDATION
CONTENTS OF THE FIIYANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
Page
Report of the Trustees
I to 3
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
6 to 7
Notes to the Financial Statements
8 to 12
Detailed Statement of Flnanclal Activities
13

THE MATTHEW LUDLAM FOUNDATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 JANUARY 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with
the financial statements of the charity for the year ended 31 January 2023. The trustees have adopted the provisions of
Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)
(effective l January 2019).
OBJEcfIvES AND ACTIVITIES
Objeetives and aims
The objectives of the charity are to advance such charitable purposes for the public benefit (according to the law of
England and Wales) as the Trustees may see fil in particular (though not limited to):
(a) the advancement of education, citizenship, the arts, culture, heritage, science, amateur sport, and environmental
protection or improvement.
(b) the prevention or relief of poverty.
(c) the relief of those in need by reason of age, youth, ill-health, disability, financial hardship or another disadvantage.
Significant activities
The Matthew Ludlam Scholarships are grants awarded to the best and brightest students, as identified by The University
of Manchester, to enable them to access a world class education regardless of their financial situation or social
background.
Public benefit
The trustees meet regularly to plan the charity's activities for the year. The charity has made a significant public benefit
by supporting disadvantsged students at The University of Manchester in accordance with the charity's objectives.
The trustees have given due regard to the guidance on public benefit published by the Charity Commission.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity made a grant of £2,500 for student support at The University of Manchester in the year to 31 January 2023.
At the time of this report the trustees are pleased that the sponsored student has now graduated and obtained full-time
employment within a Town Planning Consultancy in Manchester.
Due to the change in funding structure at Manchester University the trustees are now looking at other avenues to deliver
funding to students and has identified a number of students to receive a £500 bursary in the Comin8 year. This format
will be reviewed every 12 months.
The charity has been approached for funding by a few parties over the past 12 months, Each is &ssessed according to
their declared needs and requirements.
Inforniation regarding the impact the grants have made are published on the Matthew Ludlam Foundation website
(www.tmlf.co.uk).
Fundraising activities
The charity has received donations from private individuals amounting to £950 in the year to January 2023. Donations
are raised from a network of contacts and no fundraising events were held in the year.
The Matthew Ludlam Foundation's approach to fundraising and donations will not change in the forthcoming year. The
objectives remain the same as stated in the Articles of Association dated 26th January 2016.
Valuable vintage vehicles valued at £70,000 and a Mitsubishi L200 valued at £16,000 were gifted to the charity by a
trustee. The value of these will be redeemed upon the contributors death or earlier following discussion with the
contributor.
Page I

THE MATTHEW LUDLAM FOUM)ATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 JANUARY 2023
FINANCIAL RE￿Ew
Financial position
The material investments of the charity have been held in a residential property at 5 Parkfield Road South in the
high-value residential area of West Didsbury. Property prices in the area have increased historically over a long period
of time and have seen a considerable rise in the last few years.The property is revalued annually by independent estate
agents.
The charity purchased the property in November 2016 using a loan from Ms K Lowe (a trustee of the charity). The
charity pays interest on this loan.The total loan of £356,941 is repayable to Ms K Lowe at the end of the loan period in
November 2023 or on completion of the sale of the propety if a sale occurs prior to that date.
The rental income from this property provides a steady income stream for the charity together with further private
donations from individuals and companies from time to time.
Over the last few years the gardens of the property have been cultivated and work has been done to build "The Poppet
House" in the gardens. This has provided an additional income stream for the charity as The Poppet House has been
made available for ad hoc rentals.
The Poppett House and adjacent land were sold after the year end in February 2023 and the proceeds were used to pay
off the outstanding loan to Ms K Lowe.
Reserves policy
Variable reserves are held which are built up on an annual basis to fund the scholarships/bursaries which are awarded at
the start of each academic terni. The charity also has plans to distribute funds to the wider community in line with its
aims and objectives.
Going concern
The trustees believe there are no uncertainties about the charity as a going concern and so have prepared the accounts on
the going concern basis.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing documen( a deed of trusL and constitutes a limited company, limited by
guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAIIS
Registered Company number
09971407 (England and Wales)
Registered Charity number
1184719
Registered office
99 Palatine Road
Manchester
M20 3JQ
Trustees
R Mawdsley
R Kendrick
K Lowe
S McNerney
Page 2

THE MATTHEW LUDLAM FOUNDATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 JANUARY 2023
REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
Mr Adam J. Syddall M.A,, A.C.A.
P B Syddall & Co
Chartered Accountants
Grafton House
81 Chorley Old Road
Bolton
Lancashire
BLI 3AJ
Approved by order of the board of trustees on 27 October 2023 and signed on its behalf by:
S McNerney - Trustee
Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE mA￿HEw LUDLAM FOUNDATION
Independent examiner's report to the trustees of The Matthew Ludlam Foundation ('the Company,)
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 January 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for
the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act
and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried
out under Section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the
Directions given by the Charity Commission under Section 145(5) (b) of the 201 l Act.
Independent examiner's statement
I have completed my examination. I confirni that no matters have come to my attention in connection with the
examination giving me cause to believe:
accounting records were not kept in respect of the Company as required by Section 3 86 of the 2006 Act; or
the accounts do not accord with those records; or
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any
requirement that the accounts give a true and fair view which is not a matter considered as part of an independent
examination. or
the accounts have not been prepared in accordance with the methods and principles of the Statement of
Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts
in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should
be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mr Adam J. Syddall M.A., A.C.A.
The Institute of Chartered Accountants in England and Wales
P B Syddall & Co
Chartered Accountants
Grafton House
81 Chorley Old Road
Bolton
Lancashire
BLI 3AJ
27 October 2023
Page 4

THE mA￿HEw LUDLAM FOUNDATION
STATEMENT OF FINANCJAL ACTIVITIES
FOR THE YEAR ENDED 31 JANUARY 2023
31.1.23
Unrestricted
fund
31.1.22
Total
funds
Notes
COME AND ENDOWMENTS FROM
Donations and legacies
86,950
50,155
Investment income
38,257
33,812
Total
125,207
83,967
EXPENDITURE ON
Raising funds
33,293
8,007
Charftable activities
Charitable activity
2,500
9,000
Other
22,124
15,643
Total
57,917
32,650
Net gains on investments
400,000
NET INCOME
67290
451,317
RECONCILIATION OF FUNDS
Total funds brought forward
794,131
342,814
TOTAL FUNDS CARRIED FORWARD
861,421
794,131
The not¢s forn] part of thcse financial statements
Page 5

THE MArrHEW LUDLAM FOUNDATION
BALANCE SHEET
31 JANUARY 2023
31.1.23
Unrestricted
fund
31.1.22
Total
funds
Notes
FIXED ASSETS
Tangible assets
Heritage assets
Investment property
14,667
70,000
1,100,000
I, i 00,000
1,184,667
I, i 00,000
CURRENT ASSETS
Cash at bank
39J66
53,152
CREDITORS
Amounts falling due within one year
(359,021)
(359,021)
NET CURRENT ASSETS
(319,655)
(305,869)
TOTAL ASSETS LESS CURRENT
LIABILITIES
865,012
794,131
CREDITORS
Amounts falling due after more than one year
(3,591)
NET ASSETS
861,421
794,131
FUNDS
Unrestricted funds
861,42]
794,131
TOTAL FUNDS
861,421
794,131
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year
ended 31 January 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended
31 January 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a)
ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the
Companies Act 2006 and
preparing financial ststements which give a true and fair view of the state of affairs of the charitable company as
at the end of each financial year and of its surplus or deficit for each financial year in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act
2006 relating to financial statements, so far as applicable to the charitable company.
(b)
The notes fonn part of these financial statements
Page 6
continued...

THE MATTHEW LUDLAM FOUNDATION
BALANCE SHEET- continued
31 JANUARY 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies
subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 27 October 2023 and were
signed on its behalf by:
S McNemey - Trustee
The notes form part of these financial statements
Page 7

THE MATTHEW LUDLAM FOUNDATION
NOTES TO THE FINANCIAL STATEMENrs
FOR THE YEAR ENDED 31 JANUARY 2023
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial ststements of the charitable company, which is a public benefit entity under FRS 102, have been
prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement
of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),,
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of
Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost
convention, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it
is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the
charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is accounted fi)r on an accruals basis and has
been classified under headings that aggregate all cost related to the category. Where costs cannot be directly
attributed to particular headings they have been alloeAted to activities on a basis consistent with the use of
resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but
not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
life,
Motor vehicles
25 % on reducing balance
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in
fair value is recognised in the Statement of Financial Activities.
Taxation
The charity is exempt from corporation tsx on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions
arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Page 8
continued..

THE MATTHEW LUDLAM FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - eontinued
FOR THE YEAR ENDED 31 JAIYUARY 2023
INVESTMENT INCOME
31,1.23
31.1.22
Rents received
38,257
33,812
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
31.1.23
31.1.22
Depreciation - owned assets
1,333
TRUSTEES, REMUNERATION AND BENEFITS
There were no trustees, remuneration or other benefits for the year ended 31 January 2023 nor for the year ended
31 January 2022,
Trustees, expenses
There were no trustees, expenses paid for the year ended 31 January 2023 nor for the year ended
31 January 2022.
TANGIBLE FIXED ASSETS
Motor
vehicles
COST
Additions
16,000
DEPRECIATION
Charge for year
1,333
NET BOOK VALUE
At 31 January 2023
14,667
At 31 January 2022
HERITAGE ASSETS
Total
MARKET VALUE
Additions
70,000
NET BOOK VALUE
At 31 January 2023
70,000
At 31 January 2022
Page 9
continued...

THE MATTHEW LUDLAM FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED31 JANUARY 2023
INVESTMENT PROPERTY
FAIR VALUE
At l February 2022
and 31 January 2023
1,100,000
NET BOOK VALUE
At 31 January 2023
1,100,000
At 31 January 2022
1,100,000
Fair value at 31 January 2023 is represented by:
Valuation in 2021
Valuation in 2022
Cost
402,626
400,000
297J74
1,100,000
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23
31.1.22
Other loans (s¢e note l O)
Deposit held
Accrued expenses
356,941
1,000
1,080
356,941
1,000
1,080
359,021
359.021
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.23
31.1.22
Other creditors
3,591
10.
LOANS
An analysis of the maturity of loans is given below:
31.1.23
31.1.22
Amounts falling due within one year on demand:
Other loans
356,941
356,941
Page 10
continued...

THE mA￿HEw LUDLAM FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 JANUARY 2023
11.
MOVEMENT IN FUNDS
Net
movement
in funds
At
31.1.23
At 1.2.22
Unrestricted funds
General fund
794,131
67,290
861,421
TOTAL FUNDS
794,131
67,290
861,421
Net movement in funds, included in the above are as follows:
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
125207
(57,917)
67290
TOTAL FUNDS
125,207
(57,917)
67290
Comparatives for movement in funds
Net
movement
in funds
At
31.1.22
At 1.2.21
Unrestricted funds
General fund
342,814
451,317
794,131
TOTAL FUNDS
342,814
451,317
794,131
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
Resources
exp¢nd¢d
Gains and
losses
Movement
in funds
Unrestricted funds
General fund
83,967
(32,650)
400,000
451,317
TOTAL FUNDS
83,967
(32,650)
400,000
451,317
Page 11
continued...

THE MAThHEW LUDLAM FOUNDATION
NOTES TO THE FINANCIAL STATEMEwfs- continued
FOR THE YEAR ENDED31 JANUARY 2023
11.
MOVEMENT IN FUNDS- continued
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
in funds
At
31.1.23
At1.2.21
Unrestricted funds
General fund
342,814
518,607
861,421
TOTAL FUNDS
342,814
518,607
861,421
A current year 12 months and prior year 12 months combined net movement in fLmds, included in the above are
as follows:
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestricted funds
General fund
209,174
(90,567)
400,000
518,607
TOTAL FUNDS
209,174
(90,567)
400,000
518,607
12.
RELATED PARTY DISCLOSURES
The charity received rents in the year from Mr R Mawdsley (a trustee of the charity) of £1,670 per month. This is
regarded by the trustees as a market rent carrying no undue benefit.
The charity paid interest of £19,501 to The Market Harborough Building Society in respect of the interest only
loan taken out by Ms K Lowe (a trustee of the charity). The balance of the loan owed by the charity to Ms K
Lowe is £356,941 (2022: £356,941). The loan has subsequently been repaid following the sale of The Poppett
House.
Page 12

THE MATTHEW LUDLAM FOUNDATION
DETAILED STATEIVIENT OF FINANCIAL ACTIvrriES
FOR THE YEAR ENDED 31 JANUARY 2023
31.1.23
31.1.22
INCOME AND ENDOWIVtENTS
Donations and legacies
Gifts
Donations
86,000
950
50,155
86,950
50,155
Investment Ancome
Rents received
38,257
33,812
Total incoming resources
125,207
83,967
EXPENDJTURE
Raising donations and legacies
Ren( rates and insurance
Repairs and maintenance
7,851
25,442
4,225
3.782
33293
8,007
Charitable activities
Student sponsorship
2,500
9,000
Other
Bank interest
19,501
14,463
Support costs
Finance
Depreciation of tangible fixed assets
1,333
Governance Costs
Independent examination
Legal fees
1,080
210
1,180
1,290
1,180
Total resources expended
57,917
32,650
Net income
67290
51,317
This page does not form part of the statutory financial statements
Page 13